In this paper, we present an update of the highly successful Event Solution process (SPE 105276, The Event Solution; a New Approach for Fully Integrated Studies Covering Uncertainty Analysis and Risk Assessment).
The Event Solution is a short, intensively collaborative, multi-disciplinary field development optimization study approach that compresses complex, multi-year, study decision cycle times into weeks / months with increased clarity and detail on a wider range of development options, under uncertainty. The Event Solution is a highly successful study approach that creates significant value added synergy (understanding, decisions, technical and business) among all stakeholders (technical professionals, managers, executives and partners). Project results are faster with more qualified decisions (operational, tactical, strategy and portfolio) that encompass the complexity and diversity of multiple project realizations under uncertainty.
Successfully employed on 14 mega Saudi Aramco projects since late 2006, this paper illustrates the significance and the impact of Event Solution project results in terms of improved holistic reservoir understanding, field development decisions, risk and mitigation, under uncertainty. Higher original oil in place (OOIP), increase reserves and longer production plateaus are examples of Event Solution success.
This paper describes the innovative Saudi Aramco Event Solution approach to jointly co-manage and model uncertainty and risk through an integrated static, dynamic and economic field development process. The Event Solution is compared and contrasted with other industry approaches, illustrating study approach differences and benefits. The paper also summaries the steps to implement an Event Solution approach in scalable manner in different sized companies.